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Investment in Affiliated Companies
6 Months Ended
Jun. 30, 2022
Investments in and Advances to Affiliates [Abstract]  
Investment in Affiliated Companies

4.        Investment in Affiliated Companies

 

Phoenix Digital Solutions, LLC (“PDS”)

 

PDS was formed by PTSC to pursue licensing of its intellectual property and we own 50% of the membership interests of PDS. On September 29, 2020, the members of PDS agreed to wind up and dissolve PDS as the underlying intellectual property was deemed no longer enforceable. In January 2021, the remaining cash on hand of $55,274 was equally distributed to its two members according to the dissolution plan, of which we received proceeds of $27,637 in January 2021. There were no expenses incurred during the three or six months ended June 30, 2022 or 2021.